Oscar winner George Clooney’s fundraiser for President Obama looks to be a huge success. The event, which is being held at Clooney’s Hollywood home, has sold out and is expected to raise a whopping $12 million for the president’s re-election campaign. The Hollywood Reporter has more:

President Barack Obama’s dinner with George Clooney has officially sold out and campaign sources are telling The Hollywood Reporter that the event is expected to raise up to $12 million for the president’s reelection, making it the biggest presidential fundraiser in U.S. history.

One-hundred-and-fifty high rollers — including Hollywood studio heads, celebrities and an array of entertainment industry execs — have paid $40,000 apiece to dine with the president at Clooney’s Studio City home on May 10. DreamWorks Animation chief Jeffrey Katzenberg, the president’s major entertainment industry fundraiser, has been spearheading the event along with Hollywood political consultant Andy Spahn.

The packed dinner at Clooney’s house will bring in between $5 million and $6 million for the president’s campaign coffers, sources told THR. The demand for tickets at the event was so great that organizers tried to limit the guest list to those living in Southern California.